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Year After-tax Cash Flow 0 ($3,000,000) 1 700,000 2 700,000 3 700,000 4 700,000

ID: 2711523 • Letter: Y

Question

Year After-tax Cash Flow

0 ($3,000,000)

1 700,000

2 700,000

3 700,000

4 700,000

5 -1,300,000

6 700,000

7 700,000

8 700,000

9 700,000

10 900,000

A. If RWE uses a 10 poercent discount rate to evaluate investments of this type, what is the net present value of the project? What does this NPV indicate about the potential value RWE might create by purchasing the new product line?

B. Calculate the internal rate of return and profitability index for the proposed investment. What do these two measures tell you about the project's viability?

C. Calculate the payback and discounted payback for the proposed investment, Interpret your findings.

(show calculation)

Explanation / Answer

Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 Cash flow -3000000 700000 700000 700000 700000 -1300000 700000 700000 700000 700000 900000 Discount rate % 10% present value of cashflows -3000000 636363.6 578512.4 525920.4 478109.4 -807197.7 395131.8 359210.7 326555.2 296868.3 346989.0 NPV 136463 IRR 0.010 Cumulative Cash Flow -3000000.00 -2300000.00 -1600000.00 -900000.00 -200000.00 -1500000.00 -800000.00 -100000.00 600000.00 1300000.00 2200000.00 Payback Period 7 Years 2 months